Bank of China contributes to $3.2 billion USD syndicated term loan to RPI 2019 Intermediate Finance Trust for debt refinancing purposes in 2020

Project narrative

On February 11, 2020, financial close was reached on a deal in which a syndicate of 34 banks — including Bank of China — entered into a $6.04 billion USD syndicated loan agreement with RPI 2019 Intermediate Finance Trust — a special-purpose financing vehicle established to acquire biopharmaceutical royalty interests, affiliated with Royalty Pharma, a U.S.-based royalty funder. The loan was divided into two tranches. AidData is tracking Tranche A-1, which carries a commitment amount of $3.2 billion USD and matures on February 11, 2025. The interest rate was LIBOR (1-month) plus 1%. The proceeds were used to repay amounts owed by RPI Intermediate Finance Trust under its existing senior secured credit agreement. The proceeds were used by the borrower to refinance existing debt — specifically to repay outstanding amounts owed by RPI Intermediate Finance Trust under its senior secured credit facility. This refinancing helped streamline the capital structure and support Royalty Pharma’s continued investments in pharmaceutical royalty assets. While Bank of China contributed to this loan (Record ID#), the following lenders also participated: Bank of America; Goldman Sachs Bank USA; JPMorgan Chase Bank, N.A.; Citibank, N.A.; Morgan Stanley Bank, N.A.; DNB Capital, LLC; TD Bank, N.A.; BBVA USA; The Bank of Nova Scotia; Truist Bank; PNC Bank, National Association; Bank of Montreal; UBS AG, Stamford Branch; The Huntington National Bank; Sumitomo Mitsui Banking Corporation; Regions Bank; Associated Bank N.A.; Hancock Whitney Bank; Siemens Financial Services, Inc.; Synovus Bank; Woodforest National Bank; The Bank of East Asia Limited, Los Angeles Branch; Taiwan Business Bank, Los Angeles Branch; Credit Industriel et Commercial, New York Branch; Flushing Bank; American Savings Bank, F.S.B.; First Hawaiian Bank; BankUnited, NA; TriState Capital Bank; Land Bank of Taiwan Los Angeles Branch; Mega International Commercial Bank Co., Ltd., New York Branch; CTBC Bank Co., Ltd.; and MidFirst Bank.